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The European Union and Sri Lanka held the fourth dialogue on strengthening investment and trade.

The EU's delegation, led by Ambassador of the European Union to Sri Lanka Tung-Lai Margue, included representatives from the UK, Germany, France and the Netherlands.

Ambassador Margue said the EU was studying Sri Lanka's latest budget, adding that some of the World Bank and International Monetary Fund objectives had been included.

"The budget would lead to the creation of a more favorable business environment and several progressive outcomes would arise from such efforts. This included evaluating the possibility of foreign investors owning land in Sri Lanka, as well as economic packages that would promote the development of small and medium enterprises, notably in the Northern Province," Ambassador Margue was quoted by the Colombo Page as saying.

Sri Lanka's Minister of Development Strategies and International Trade Malik Samarawickrama, who led the country's delegation said, "the current budget of the Government of Sri Lanka was the most outward orientated budget that the country had adopted since the era of the late President J R Jayewardene."

"Sri Lanka warmly welcomes investors from the EU and would greatly appreciate if the EU mission could disseminate within the Union, a message that the Government of Sri Lanka is indeed very keen to welcome them to develop new industries in the country," he added.